28

Nov

Stock market returns 6.88% WtD on renewed investors’ optimism

The Nigerian stock market last week grew further, driven by growth in the prices of Airtel Africa, Dangote Cement as well as other 47 stocks. The All Share Index and Market capitalization grew by 6.88% to settle at 47,554.34 and N25.902 trillion respectively. An aggregate of 711.6 million units of shares were traded in 16,662 deals, valued […]

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28

Nov

Nigeria’s GDP growth rate drops to 2.25% in Q3 2022

Recent report published by the National Bureau of Statistics revealed that Nigeria’s Gross Domestic Product (GDP) grew by 2.25% (year-on-year) in real terms in the third quarter of 2022. This represents a decrease of 1.29% points relative to 3.54% GDP in Q2 2022. This growth rate declined from 4.03% in the third quarter of 2021. The reduction[…]

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28

Nov

FAAC distributes N736.78bn to FG, States and LGs

The Federation Account Allocation Committee (FAAC) has disbursed N736.782 billion from October 2022 Federation Account Revenue to the Federal Government, States and Local Government Councils. According to the communiqué at the end of the Federation Account Allocation Committee (FAAC) meeting for November 2022, the N736.782 billion total distributable revenue was made up of N417.724 billion distributable statutory revenue; N213.283[…]

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